GDPR and Cyber Security
Can you really afford to ignore it?
You have heard the phrase “a good reputation takes years to build yet only seconds to destroy!”
Well, in today’s high speed, technically advanced world, that really is the case.
It is why so many businesses who have been the subject of a cyber-attack have tried to keep it secret and not disclosed the fact to their customers – the very people whose personal information has been accessed.
It is for this reason that the UK Government and the EU have introduced the General Data Protection Regulations, which came into force on 25 May 2018.
You have probably taken steps to improve your procedures, but in the event of a data breach or cyber-attack, would you have the resources and expertise to manage the incident, in compliance with the new regulations?
We would strongly recommend that you take out cyber insurance cover now, even if it is only for the basic incident management support. We can offer you a wide variety of cyber insurance covers and will help you to assess your financial exposures and determine the right level of insurance protection, but would suggest that access to practical support for the management of any incident should be a minimum requirement.
Insurance covers can be arranged immediately and can be placed for as little as £150 premium for protection up to £100,000.
Whilst you may think it will never happen to you, the government’s statistics indicate that nearly half of UK organisations, including SME’s , experienced an attack within the last 12 months , and have estimated the cost of cyber attacks to the UK at around £27bn.